Advisor Accounts

Client Description

An Individual or Organization Registered Advisor that manages both client administration (Wealth Management) and the client's money (Money Management).

Account Description

A master account linked to individual or organization client accounts.The master account is used for fee collection and trade allocations. The advisor can open a single account for his or her own trading. The account can be white branded with the advisor's corporate identity.

Client Markups

% of equity, flat fee, % of P&L, fee per trade, and manual billing.

Trading Access & Account Management

The advisor has access to trading and most Account Management functions. Organization Advisors can have multiple users, each with access to different functions and jurisdiction over different client accounts. By default, client do not have access to trading, but client trading can be enabled. Clients have access to all Account Management functions.

Money Manager Accounts

An Individual or Organization Registered Advisor that is hired on behalf of another advisor (Wealth Manager) to manage some or all of their client's money.

Account Description

A new separate client account is opened for any client for whom a Money Manager manages money. Money Managers can manage money across multiple advisors (Wealth Managers) and their clients.

Client Markups

% of equity, flat fee, % of P&L, fee per trade, and manual billing, set by the advisor (Wealth Manager).

Trading Access & Account Management

The Money Manager has access to trading only. Assets are moved to the Money Manager client account by the Advisor (Wealth Manager). Organization Money Managers can have multiple trading users, each with jurisdiction over different client accounts.

Broker & FCM Accounts

A Registered Broker or FCM that provides marketing and advice to clients. We provide all other functions, including client registration, trade execution/clearing and reporting.

Same as Fully Disclosed Broker with the exception that the client broker provides client record keeping and compliance functions. We also must maintain the same client information for tax reporting and regulatory purposes.

Same as Non-Disclosed Broker with the exception that we do not separate the individual client trading activity.

Account Description

A master account linked to an individual or organization client accounts. The master account is used for fee collection. The broker can open a single proprietary trading account. The account can be white branded with the broker's corporate identity.

Same as Fully Disclosed with the exception that clients must sign disclosures with the non-disclosed broker.

A master account with a linked long account and a linked short account. These two accounts are required as client trading cannot be netted.

Client Markups

Fee per trade.

Same as Fully Disclosed Broker.

Not Available.

Trading Access & Account Management

The broker has access most Account Management functions. Brokers can have multiple users, each with access to different functions and jurisdiction over different client accounts. Clients have access to all trading and Account Management functions.

Proprietary Trading Group Accounts

A corporation, partnership, limited liability company or unincorporated legal structure.

Same as Pool.

Account Description

Single account which holds assets owned by the entity account holder.

Multiple, linked accounts all in the name of a single entity. Assets in all accounts are owned by the entity account holder. Each account has its own trading limits and can have its own trading strategy.

Trading Access & Account Management

One or more users. Users can be configures to have some or all trading and Account Management functions.

Master user(s) are designated and can be configured to have some or all trading and Account Management functions. Sub account users only access to their single account functions.

Margin

Cash, Reg T and Portfolio Margin are available.

Cash, Reg T and Portfolio Margin are available. At trade initiation, each sub account is margined separately. For maintenance and liquidation purposes, all accounts are consolidated.

Administrators

Any organization that provides third-party administrative services to other institution accounts. The services offered by such an organization might include auditing, accounting and legal counsel.

Account Description

A single account linked to multiple Advisor, Single or Multiple Hedge Fund, and Proprietary Trading Group accounts for the purpose of providing reporting and other administrative functions to one or more client, fund or sub accounts.

Trading Access & Account Management

An Administrator cannot trade and has no access to IB trading platforms. An Administrator logs into Account Management once to perform reporting functions for the multiple client, fund and sub accounts to which he or she is assigned.

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The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed Income can be substantial.

Options involve risk and are not suitable for all investors. For more information read the "Characteristics and Risks of Standardized Options". For a copy call Interactive Brokers' Client Services on 312-542-6901. Before trading, clients must read the relevant risk disclosure statements on our Warnings and Disclosures page - http://www.interactivebrokers.com/disclosures. Trading on margin is only for sophisticated investors with high risk tolerance. You may lose more than your initial investment. For additional information regarding margin loan rates, see http://www.interactivebrokers.com/interest. Security futures involve a high degree of risk and are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading security futures, read the Security Futures Risk Disclosure Statement. For a copy visit http://www.interactivebrokers.com/disclosures. Structured products and fixed income products such as bonds are complex products that are more risky and are not suitable for all investors. Before trading, please read the Risk warning and Disclosure Statement at http://www.interactivebrokers.com/disclosures.

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